At Payed, we help you obtain the merchant account and payment processing that you need to operate your business with peace of mind.
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It is difficult to find a high risk payment processor for a high risk business that you can trust to keep your business operating and look after your interests. Having a lot of experience in the sector, we know the challenges in the CBD industry of trying to find a payment processor.
CBD oil and other products derived from it are considered to be high risk. Although CBD is actually legal, it is actually cultivated from the same plant THC, it’s naught older brother which is very illegal (in most places). This, for obvious reasons, makes banks, merchant providers, lenders and pretty much anyone in finance nervous. In fact, most major companies will deem it too high risk and just issue a blanket ‘NO’ to the industry.
Luckily for you there are in fact smaller providers who are more prepared to take on the ‘risk’ of your business and we are one of them. Leveraging our experience and relationships are committed to delivering market leading products and services to help you secure and expand your business.
We offer solutions which fit your CBD business needs with smooth quick onboarding.
Cash and cash flow are everything! Without it you have no business so having your CBD merchant account closed down out of the blue is possibly the worst thing that can happen to your business! Unable to make sales, collect money or make wages and buy new stock? It puts the whole business at risk. No need to worry, unlike Stripe or Paypal, Payed was designed and set up for your CBD business. We cover all of your high risk needs and can even help you recover your account.
If you have had your account shut down, it will cut off access to your funds held in that account, which is disastrous. Technically what this means is you have been flagged as high risk and been barred from the network of most payment processors. But don’t worry, in most cases you can recover your funds, you just need to connect a payment processor who specialises in high risk. Ahem… Payed will recover your account and have your business back up and running in no time.
If you are early stage, starting out from the get go with a suitable high risk payment processor like Payed will avoid you being shut down and having your funds frozen and generally the whole above palava that comes with CBD merchant accounts.
Start right from the outset with Payed will ensure all your CBD payment needs are covered.
We will open an account for any CBD company who have less than the allowed 0.2% of THC in their product and operate a compliant business.
Sales are facilitated online, meaning the payment is made ‘card not present’, which is inherently a high risk type of payment due to the possibilities of fraud. This potential risk leads to higher rates of frauds and chargebacks, which banks and processors do not like!
1. The banks etc do not want the reputational risk or being involved with you. Sorry, you’re unpopular. That’s just how it is right now.
2. For businesses like yours, it is essential you find the right provider. Paypal, Square and all the traditional payment processors are not designed for high risk. It’s just not their business model.
You must use a specialist or you are just inviting misery and problems into your business. Now one you’ve made that wise decision, you have to choose which high risk specialist. Payed has got you covered. We are trusted and proven across all major high risk industries and will build a solution which compliments your business which you can trust and allow you to get on with what’s important. Selling CBD.
Our partners not only offer payment solutions for our clients, they also improve our offering with quicker processing and reduced fees for products such as bank accounts, Bitcoin brokerage and international FX.
Other than the fact banks and financial institutions just consider CBD to be too closely related to Cannabis, an illegal drug in most places, CBD is also yet to be fully understoof by the medical community. This means the products are still considered a risk, until proven to be 100% safe and beneficial to users, globally.
Take a look around the complete offering from Payed and find out how we can help your business begin trading online in just 7 days.
